In two announcements on Sept. 24, the Internal Revenue Service (IRS) unveiled a number of significant changes to its plan to require certain business taxpayers to report uncertain tax positions (UTP) on their tax returns. Along with the announcements (2010-75 and 2010-76), the IRS released a final Schedule UTP and instructions. The AICPA issued a comment letter in June, and the IRS has incorporated several AICPA suggestions into its announcements today. The AICPA will continue to advocate for further changes and refinements to the UTP initiative to protect the integrity of the financial statement process and to further reduce the administrative burden placed on taxpayers. For more information, read this JournalofAccountancy.com article.

New Toolkit for SSARS No. 19, Compilation and Review Engagements, Helps with Implementation

The AICPA is soliciting current CFF credential holders with 0-10 years of forensic accounting experience interested in taking the CFF exam at no charge. Beta testers will take the exam without risk of failure and will be unable to find out their results. For those that are interested, please contact Megan Johnson and express your interest to become a part of this initiativetoday.

CPA Letter Daily Widget and RSS Headline Feed Keep Your Website Fresh

Looking to add the day’s news to your homepage or desktop? Add the CPA Letter Daily widget. The CPA Letter Daily widget now comes in three convenient sizes, enabling almost any website to accommodate it. Or, grab the CPA Letter Daily RSS headline feed and integrate the day’s news into your website using your design. To get each day’s important business, finance, tax and accounting news emailed to you, sign up to receive CPA Letter Daily. It’s free and you can opt out at any time.

Dodaro Nominated for U.S. Comptroller General

The White House on Sept. 21 announced Gene L. Dodaro as President Barack Obama’s nominee for U.S. comptroller general and head of the Government Accountability Office (GAO), which investigates federal government spending. Dodaro has been acting U.S. comptroller general since March 2008, when David Walker, CPA resigned from the post. The GAO position is one of several leadership roles touching the accounting profession that is in flux because of resignations or retirements. Read the AICPA’s statement on Dodaro’s nomination and this JournalofAccountancy.com article.